Wall Street Zen Upgrades Bank of Marin Bancorp (NASDAQ:BMRC) to Hold

Bank of Marin Bancorp (NASDAQ:BMRC) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities analysts also recently commented on BMRC. Weiss Ratings restated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday. Zacks Research upgraded Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. UBS Group set a $30.00 target price on shares of Bank of Marin Bancorp in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $30.00 target price (up previously from $27.00) on shares of Bank of Marin Bancorp in a report on Wednesday, October 29th. Finally, DA Davidson lifted their price target on shares of Bank of Marin Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Bank of Marin Bancorp has an average rating of “Moderate Buy” and a consensus price target of $28.40.

Bank of Marin Bancorp Stock Performance

Shares of Bank of Marin Bancorp stock opened at $27.15 on Friday. The firm has a market cap of $436.84 million, a P/E ratio of 43.79 and a beta of 0.85. The firm’s 50-day simple moving average is $25.93 and its 200-day simple moving average is $24.50. Bank of Marin Bancorp has a twelve month low of $19.14 and a twelve month high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, March 7th. The bank reported $0.61 earnings per share (EPS) for the quarter. The firm had revenue of $31.32 million during the quarter. Bank of Marin Bancorp had a net margin of 6.22% and a return on equity of 5.25%. On average, equities analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank of Marin Bancorp

A number of institutional investors have recently modified their holdings of BMRC. Wellington Management Group LLP lifted its position in shares of Bank of Marin Bancorp by 268.7% during the third quarter. Wellington Management Group LLP now owns 943,534 shares of the bank’s stock worth $22,909,000 after purchasing an additional 687,615 shares in the last quarter. Vanguard Group Inc. raised its position in Bank of Marin Bancorp by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 838,623 shares of the bank’s stock worth $20,362,000 after purchasing an additional 5,690 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Bank of Marin Bancorp by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 787,584 shares of the bank’s stock worth $19,123,000 after buying an additional 14,089 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Bank of Marin Bancorp by 7.0% during the 1st quarter. Alliancebernstein L.P. now owns 701,534 shares of the bank’s stock worth $15,483,000 after buying an additional 46,020 shares in the last quarter. Finally, HoldCo Asset Management LP boosted its position in Bank of Marin Bancorp by 23.8% in the 3rd quarter. HoldCo Asset Management LP now owns 504,411 shares of the bank’s stock valued at $12,247,000 after buying an additional 97,000 shares during the last quarter. 52.26% of the stock is owned by institutional investors.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.